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Does it matter when I file Chapter 7 bankruptcy?
No, it doesn't matter when you file a chapter 7 bankruptcy. There is no right or wrong time of the year to do so. Courts don't have a preference for when a debtor files. It's entirely a personal decision for when to file.
It's never a good idea to drag out filing. There are plenty of emotional implications that come with bankruptcy to be sure. But the longer you wait, the worse it gets. Creditors will not stop attempts to collect on debt. It's entirely possible that they'll come to the end of their rope and take you to court to obtain a judgment. By the time one's obtained, you may as well file. Judgments ruin credit ratings until the debt is paid. The reason why the debt was unpaid to begin with was lack of money, and that's probably not going to change in the near future.
Bankruptcy is a legitimate tool offered by the government to create a fresh start for debtors. It should not be viewed as anything other than a means to leave old debts behind and start life fresh. So don't wait for a certain time of year to file, just do it.
A lawyer will be the best person to answer the question of when to file. They can look at your financial situation and help you decide if you should file now or wait for any reason.
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